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Campus planners are trying to be as careful with cash and hope the bills won't be as high as projected. Nevertheless, they want the university to shine May 16 when Obama steps to the lectern to inspire the graduating class.

The city's downtown festival will cost about $30,000, which leaders believe will entirely be covered by sponsorships.

AT&T, the Educational Employees Credit Union and Kaiser Permanente have collectively committed to donate $80,000 to the university's ceremony, Luiz said. Even though it's Obama's first major speech since the election, lining up financial support from major companies has proved tough.

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